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Question 1
Question
Sombarts thesis in an example of which perspective of history?
Answer
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Socially constructed
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Socially constructing
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Traditional
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Professional
Question 2
Question
The perspective that accounting has developed to meet the needs of society is best described as:
Answer
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Socially constructed
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Traditional
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Professional
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Socially constructing
Question 3
Question
The industrial revolution was most closely associated with the development of which form of accounting?
Answer
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Financial Accounting
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Historical Cost
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Management Accounting
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Auditing
Question 4
Question
Which of the following statements is true about the regulation of accounting practice in its early period of development?
Answer
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Accounting was largely determined by accounting theory.
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Accounting was largely determined by accounting standards issued by the accounting profession.
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Accounting was largely determined by the national Securities and Exchange Commissions and resulting legislation.
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Accounting was largely determined by generally accepted practice.
Question 5
Question
Which of the following statements is true about early codification of accounting rules?
Answer
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In the early part of the twentieth century, limited work was undertaken to codify particular accounting principles or rules.
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Accountants used rules of which they were aware, and which they believed were most appropriate to the particular circumstances.
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There was very limited uniformity between the accounting methods adopted by different organisations, thereby creating comparability problems.
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All of the given options are correct.
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